Stock Analysis on Net

Adobe Inc. (NASDAQ:ADBE)

Balance Sheet: Liabilities and Stockholders’ Equity 

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Adobe Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Nov 29, 2024 Dec 1, 2023 Dec 2, 2022 Dec 3, 2021 Nov 27, 2020 Nov 29, 2019
Trade payables 361 314 379 312 306 209
Accrued compensation and benefits 646 535 485 490 375 318
Accrued bonuses 575 547 489 455 330 222
Accrued corporate marketing 176 132 154 96 134 80
Derivative collateral liabilities 168 50
Refund liabilities 141 111 106 128 127 126
Sales and use taxes 121 122 117 119 95 83
Other 509 445 439 448 361 569
Accrued expenses 2,336 1,942 1,790 1,736 1,422 1,399
Debt, current portion 1,499 500 3,149
Deferred revenue 6,131 5,837 5,297 4,733 3,629 3,378
Income taxes payable 119 85 75 54 63 56
Current operating lease liabilities 75 73 87 97 92
Current liabilities 10,521 8,251 8,128 6,932 5,512 8,191
Debt, excluding current portion 4,129 3,634 3,629 4,123 4,117 989
Deferred revenue 128 113 117 145 130 123
Income taxes payable 548 514 530 534 529 616
Long-term operating lease liabilities 353 373 417 453 499
Other liabilities 446 376 293 257 233 314
Long-term liabilities 5,604 5,010 4,986 5,512 5,508 2,041
Total liabilities 16,125 13,261 13,114 12,444 11,020 10,232
Preferred stock, $0.0001 par value; none issued
Common stock, $0.0001 par value
Additional paid-in-capital 13,419 11,586 9,868 8,428 7,357 6,505
Retained earnings 38,470 33,346 28,319 23,905 19,611 14,829
Accumulated other comprehensive loss (201) (285) (293) (137) (158) (188)
Treasury stock, at cost (37,583) (28,129) (23,843) (17,399) (13,546) (10,615)
Stockholders’ equity 14,105 16,518 14,051 14,797 13,264 10,530
Total liabilities and stockholders’ equity 30,230 29,779 27,165 27,241 24,284 20,762

Based on: 10-K (reporting date: 2024-11-29), 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27), 10-K (reporting date: 2019-11-29).


Trade Payables
Trade payables increased overall from 209 million USD in 2019 to 361 million USD in 2024, with some fluctuations along the way. A peak was observed in 2022 at 379 million USD before a decrease in 2023 and subsequent rise in 2024.
Accrued Compensation and Benefits
There is a consistent rising trend over the years, growing from 318 million USD in 2019 to 646 million USD in 2024, indicating increasing personnel-related expenses or accruals.
Accrued Bonuses
Accrued bonuses showed steady growth, rising significantly from 222 million USD in 2019 to 575 million USD in 2024, reflecting higher bonus liabilities.
Accrued Corporate Marketing
Values fluctuated but overall showed an increasing trend from 80 million USD in 2019 to 176 million USD in 2024, with peaks in 2020 and 2022, suggesting variable marketing accruals but generally increasing investment.
Derivative Collateral Liabilities
Data appears starting 2023 with 50 million USD and significantly increased to 168 million USD in 2024, indicating new or expanded derivative-related obligations in recent years.
Refund Liabilities
Relatively stable with minor fluctuations, started at 126 million USD in 2019 and ended at 141 million USD in 2024, suggesting consistent refund-related liabilities.
Sales and Use Taxes
Minor fluctuations were present, but no significant trend is evident, remaining around 80-120 million USD through the reviewed periods.
Other Liabilities
Values varied but showed a general uptick from 569 million USD in 2019 to 509 million USD in 2024 after some decline mid-period, indicating fluctuating other current liabilities.
Accrued Expenses
Steady increase from 1,399 million USD in 2019 to 2,336 million USD in 2024, reflecting rising expenses accrued but not yet paid, correlating with company growth or cost increases.
Debt, Current Portion
This liability is inconsistent in reporting but shows notable values of 3,149 million USD in 2019, 500 million USD in 2022, and 1,499 million USD in 2024, indicating a fluctuating short-term debt position.
Deferred Revenue (Current)
Deferred revenue increased substantially from 3,378 million USD in 2019 to 6,131 million USD in 2024, more than doubling over the period, suggesting growth in prepaid customer payments or unearned revenue.
Income Taxes Payable (Current)
Generally increased from 56 million USD in 2019 to 119 million USD in 2024, indicating a rising tax liability due within the current period.
Current Operating Lease Liabilities
Data begins in 2020 at 92 million USD, with a gradual decline to 75 million USD in 2024, pointing to reduced short-term lease obligations or possibly changes in lease accounting or asset base.
Current Liabilities (Total)
Displayed a complex pattern with a drop in 2020 to 5,512 million USD from 8,191 million USD in 2019, followed by a gradual increase to 10,521 million USD in 2024, showing recovery and growth after an anomalous dip.
Debt, Excluding Current Portion
Long-term debt increased sharply from 989 million USD in 2019 to over 4,000 million USD in subsequent years, holding steady around 4,100 million USD through 2024, indicating significant long-term financing commitments.
Deferred Revenue (Long-term)
Remained fairly stable with minor fluctuations, hovering around 120-145 million USD, showing consistent longer-term deferred revenue obligations.
Income Taxes Payable (Long-term)
Displayed a slight decrease from 616 million USD in 2019 to 548 million USD in 2024, reflecting a moderate reduction in deferred tax liabilities over time.
Long-term Operating Lease Liabilities
Trend shows a steady decline from 499 million USD in 2020 to 353 million USD in 2024, indicative of decreasing long-term lease obligations or lease terminations.
Other Long-term Liabilities
Experienced growth from 314 million USD in 2019 to 446 million USD in 2024, suggesting an increase in other long-term obligations.
Long-term Liabilities (Total)
Spiked from 2,041 million USD in 2019 to approximately 5,600 million USD in 2024, driven mainly by increases in long-term debt and other liabilities, consistent with higher financing or investment activities.
Total Liabilities
Showed a steady increase from 10,232 million USD in 2019 to 16,125 million USD in 2024, indicating overall growth in the company’s obligations and financial leverage.
Equity Items
Additional Paid-in-Capital
Consistently increased from 6,505 million USD in 2019 to 13,419 million USD in 2024, reflecting equity financing or stock-based compensation issuance.
Retained Earnings
Displayed continuous growth from 14,829 million USD in 2019 to 38,470 million USD in 2024, indicating ongoing profitability and earnings retention over the years.
Accumulated Other Comprehensive Loss
Values fluctuate but remain negative, ranging from -188 million USD in 2019 to -201 million USD in 2024, with a moderate increase in loss mid-period before some improvement by 2024.
Treasury Stock, at Cost
Shows a marked increase in negative value from -10,615 million USD in 2019 to -37,583 million USD in 2024, indicating significant share repurchase activity or treasury stock accumulation over time.
Stockholders’ Equity
Non-linear trend with an increase from 10,530 million USD in 2019 to a peak of 16,518 million USD in 2023, followed by a decline to 14,105 million USD in 2024. This reflects fluctuations due to share repurchases, accumulated earnings, and other equity movements.
Total Liabilities and Stockholders’ Equity
Increased from 20,762 million USD in 2019 to 30,230 million USD in 2024, indicating growth in the overall balance sheet size and company assets.